X-Claims’ Intervention Increases an Offer by 2,278% Because X-Claims Double Check Loss Calculations
Most complaints appear to relate to historic issues about advice given several years ago. For many customers it is a daunting task to make a complaint about advice given many years ago, and for this reason X-Claims may be able to help. X-Claims can use their considerable expertise to advise you as to whether there is a genuine reason to complain.
Case Study: A Doctor who has worked for the NHS for many years made a complaint about a Free Standing Additional Contribution (FSAVC) pension, when he should have been advised to purchase added years. Sesame accepted that the advice was incorrect but capped the period of loss to circa one year, making an offer of £2,572. Sesame maintained that the cap was in line with FCA guidance for loss calculations.
X-Claims provided written evidence from NHS pensions to prove that this capping was incorrect; however, Sesame still did not accept this evidence and forced the case to the Financial Ombudsman Service, for independent appeal.
X-Claims liaised with the FOS on the client’s behalf and obtained a judgement in favour of the client. The amended loss calculation resulted in an offer of £58,594 which was 2,278% higher than the original offer.